Experts: So what's going on NOW with Silver?Submitted by LibertyBaby on Mon, 11/15/2010 - 18:17
Over the past few days Gold has pulled back from 1400+ down to around 1350. While that range of movement may not be too surprising, I'm still a little confused as to why all the momentum, which had been driven by the Fed's QE policies, suddenly went in a reverse direction on a dime.
But Silver has reacted even far, far worse. Silver dropped from 28+, all the way down to 25 -- over a 10+% drop. And the Gold/Silver ratio has widened back again from the 50s, to now back well over 53.5.
So something different is going on with Silver again. What explains a whopping double-digit price reversal at a time when the QE policy should be giving some momentum (or at least support) behind a stable Silver price?
Mere "profit-taking" alone would not explain a 10+ percentage drop (which is a plunge, and not simply a "correction").
Anyone know what is going on here with Silver?